Karin Smyth, MP for Bristol South, has condemned the Government for failing to halt the National Insurance tax rise and tackle soaring energy costs in this week’s Spring Statement as the cost of living crisis leaves many people in Bristol South feeling the pinch.
The UK is the only country in the G7 raising taxes on working people in the midst of spiraling inflation, with the Chancellor, RIshi Sunak, having raised taxes 15 times in the last two years.
In the Spring Statement the Chancellor had the opportunity to halt the National Insurance tax rise and implement Labour’s far more generous and targeted plan for cutting household energy bills, but instead he went ahead with the tax rise and is offering a buy now, pay later loan scheme for energy which will offer little comfort to the millions of people struggling to meet the costs of rising bills.
Figures out from the Resolution Foundation show that 7 in every 8 working people will pay more tax after this Spring Budget Statement and 1.3 million more people will be pushed into absolute poverty.
Karin Smyth, MP for Bristol South, said:
“Before the Ukraine crisis, inflation was already spiraling, and with the price of petrol, food and energy still soaring I know many constituents are worried about the future and making ends meet.
“In the Spring Budget Statement the Chancellor had a choice to cancel his tax rise and cut energy bills with a windfall tax on oil and gas profits to support people through the cost of living crisis, but instead he chose to continue with his unfair National Insurance tax rise at the worst possible time.
“Under this Tory Government we are experiencing the biggest tax burden in 70 years. We must grow our economy to get us out of this high tax, low growth trap. With Labour’s plan to buy, make and sell more in Britain, and our Climate Investment Pledge, we’ll get our economy firing on all cylinders again.”